Acando YEAR-END REPORT 2011

 | Source: Acando AB Acando AB 

Acando YEAR-END REPORT 2011

 

Fourth quarter – October 1 – December 31, 2011

  · Net sales SEK 415 m (409).
  · Operating profit SEK 43 m (43).
  · Operating margin 10.3 % (10.5 %).
  · Profit after tax SEK 32 m (32).
  · Earnings per share after dilution
SEK 0.44 (0.42).

January 1 – December 31, 2011

  · Net sales SEK 1,524 m (1, 462).
  · Operating profit SEK 106 m (89).
Excluding previously communicated
nonrecurring costs attributable to the
disposal of operations in Denmark,
operating profit totaled SEK 125 m (89).
  · Operating margin 6.9 % (6.1 %).
  · Profit after tax SEK 69 m (62).
  · Earnings per share after dilution
SEK 0.92 (0.80).
Earnings per share after dilution and excluding
nonrecurring costs attributable to the disposal
of operations in Denmark amounted to
SEK 1.18 (0.80).
  · Cash and cash equivalents SEK 113 m (116).
  · The Board of Directors intends to propose that the
Annual General Meeting resolve on a dividend of
SEK 1.00 (0,50) per share, corresponding to a total
of approximately SEK 72 m.

Statement by Carl-Magnus Månsson, CEO

Operating profit for the full year from existing operations increased by more
than 40 percent compared with 2010. In 2011, we have worked continuously to
implement changes that will result in improvements in our operating margins and
create a stable structure for growth in every market in which we operate. In
terms of performance, Sweden is the Group’s strongest market and we can see how
the structure we have established in Sweden to enable us to create closer
working partnerships with our customers has started to deliver results in the
form of several challenging projects. In addition, Norway, Finland and the UK
reported a healthy trend in profits and sales.

Acando’s guiding principle is “Passion for Improvements”. We are convinced that
business understanding combined with a deep understanding of technology forms a
prerequisite for achievement of the results our customers expect. Implementation
of our customers’ projects is characterized by Team Spirit, Passion and Results.
On a daily basis, I am astounded by the immense strength of the will to succeed
and the perceptiveness shown by Acando’s employees in every assignment. We have
never been better equipped to meet our customers’ needs in a rapidly changing
economic reality. The attitude and ability of our staff comprise the greatest
competitive advantage for Acando and its customers.

We are well equipped for continued development and have a strong balance sheet
with healthy liquidity. We will continue to focus on margin and profitability
while striving to increase organic growth. We foresee first-rate opportunities
for growth in the current market and are endeavoring to recruit new employees in
all competence areas.

With a number of exciting and challenging projects in progress, 2012 will be a
captivating year.

For further information, please contact:
Carl-Magnus Månsson, President and CEO
+46 8 699 73 77

Anneli Lindblom, CFO
+ 46 76 593 84 00

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